Parents' Basements ‘Getting Crowded' As Millennial Jobs Decline

For youth, the last recession never really ended.

Bank of Canada governor Stephen Poloz took a lot of heat for suggesting in late 2014 that millennials stuck living in their parents’ basements should consider working for free.

Poloz was trying to drive home the size of the youth unemployment problem that Canada developed during the last recession. Now a new report from Bank of America Merrill Lynch says the problem has intensified since he made those remarks 20 months ago.

"The basement has gotten a little more crowded," economist Emanuella Enenajor wrote, as quoted at Bloomberg.